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Wealth & Economics > Passive Income

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message 1: by Nik (new)

Nik Krasno | 13507 comments Warren might not know much about many things, but he seems to know a thing or two about moneymaking. One of Buffet's famous quotes is: “If you don't find a way to make money while you sleep, you will work until you die.”
Maybe it's not bad to never stop working, but having additional sources of income is probably not disastrous either, especially when many fear that automation will kill jobs..
Some invest in real estate, others in stocks, writing books or in something else.
What's your attitude? What do/would you invest in?


message 2: by Nik (new)

Nik Krasno | 13507 comments Good to know. At some point we were discussing opening a VR arcades with a couple of friends, but didn't proceed with it for various reasons.

Totally off-topic, but you reminded me: have you watched Loma vs Campbell?


message 3: by Nik (new)

Nik Krasno | 13507 comments 50-60 pound sound steep indeed, although when we visited one of the sites, they retained quite a lot of personnel to explain, calibrate and help kids play


message 4: by Nik (new)

Nik Krasno | 13507 comments Iain wrote: "Yeah, watched the fight there. Thought Campbell gave a good account of himself in counter punching, and Loma maybe got a good lesson in that he faced an opp who never allowed him to have it his own way...."

Yeah, an excellent fight of two very gifted boxers, which went all the way.


message 5: by Nik (new)

Nik Krasno | 13507 comments Loma, Usyk, Gvozdyk are perceived as the second generation naturally continuing the path of Kostya Tsyu and then of Klitschko brothers. Until nineties Soviet and Cuban boxers couldn't go pro, so to my generation dudes like Mike Tyson, Roy Jones and then Lennox looked like demigods, but then Kostya, Vit, Vlad demonstrated that they can compete, win & dominate divisions. Boxing was always super popular and certainly these champs represent an excellent inspiration to young sportsmen, although sports as other spheres had deteriorated since the Big Bang of the USSR.
I'm a big fan of Usik & looking forward to seeing him competing in heavyweight, the debut to happen soon. Loma said not that long ago that he didn't see Usyk as a heavyweight and he knows him best. And indeed Usik is less of a knockout puncher, which can be a problem in a heavier class. Hope he succeeds though. Chris Byrd wasn't a big puncher too, but managed to defeat Holyfield & Vit.
Btw, proud to have met Vit in person last winter


message 6: by Nik (new)

Nik Krasno | 13507 comments Usik will need to prove himself anew as a heavyweight before he can get to fight Fury and other top contenders.
I'm a big fan of Fury too


message 7: by Scout (new)

Scout (goodreadscomscout) | 5351 comments This discussion is going right over my head. A quick question: Is gold always a good investment?


message 8: by Scout (new)

Scout (goodreadscomscout) | 5351 comments Thanks, Iain.


message 9: by Nik (new)

Nik Krasno | 13507 comments Scout wrote: "This discussion is going right over my head. A quick question: Is gold always a good investment?"

I guess you are not a big boxing fan :) Maybe you can refer to passive income then?
As of investment advice - it's excellent to hear opinions, but remember not to rely too heavily on what you read on the internet


message 10: by Ian (new)

Ian Miller | 9519 comments Scout wrote: "This discussion is going right over my head. A quick question: Is gold always a good investment?"

Gold is a fortress-type investment. Leaving aside fortuitous timing, you don't expect big returns, but it is favoured if you think there is going to be a crash that takes out banks. However, you should also hold it, because gold agencies, etc, have been known to say they will store your gold, and then act like a bank and hence go belly-up when the brown stuff hits the rotating blade.


message 11: by Scout (new)

Scout (goodreadscomscout) | 5351 comments Thanks, Ian. Right, Nik, it's been a while since I've been a fan of pugilism (Ali and Frazier), although I have nothing against it. Don't worry, I take responsibility for my own actions and release the group from any liability, although I see where you're coming from. It's a difficult thing to figure out the best thing to do with investable assets. Most lucrative avenues seem fraught with the possibility of loss. So I do nothing and know that by doing nothing, I'm losing. Catch-22.


message 12: by Ian (new)

Ian Miller | 9519 comments Not necessarily, Scout. By doing nothing you are losing out in a future growth spurt, but equally you are missing out in the calamity of a burst bubble and general economic downturn if that happens. That is the trouble with investing. If you can see what is coming, you can make a lot of money, but if you get it wrong you can lose a lot. My guess is that a downturn is coming, but my ability at guessing the future is not exactly a sequence of shining successes :-)


message 13: by Scout (new)

Scout (goodreadscomscout) | 5351 comments That's what I think every time I consider investing. So I sit on my money. Conventional thought is that it takes money to make money, but I think it takes a lot of money to take a risk and absorb the loss if you're wrong. I ain't got that kind of money :-)


message 14: by Martin (new)

Martin Newhouse | 8 comments Nice Group,

I love to read this.


message 15: by Martin (new)

Martin Newhouse | 8 comments The best investing is in yourself. Maybe you would like to read my book. How to get financial freedom. If you would like it i can sent it for free?


message 16: by Nik (new)

Nik Krasno | 13507 comments Martin wrote: "Nice Group,

I love to read this."


Welcome, Martin! Hope you'll enjoy & contribute


message 17: by Nik (new)

Nik Krasno | 13507 comments Martin wrote: "The best investing is in yourself...."

Myself? Unfortunately, I don't bear interest & provide very scarce securities :)


message 18: by Martin (new)

Martin Newhouse | 8 comments Haha I mean everyone in this Group. I want to promote it and i really love people to read it


message 19: by Martin (new)

Martin Newhouse | 8 comments If someone sents me a message i can sent a copy


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